Joliet – The Will County Board Finance Committee voted Wednesday to adjust the corporate tax levy down from what had been proposed. The adjustment would continue to lower the tax rate on the county portion of residents’ tax bills. If approved at the October Board Meeting, the rate could drop to approximately 0.58. The rate last year was 0.61. The Finance Committee voted 5-3 along party lines to reduce the levy increase by approximately $300,000. The board has lowered the tax rate for the last three years in a row.
“We’re really concerned about providing the highest amount of services for the least amount of dollars as efficiently as possible,” said County Board Member and Finance Chair Mike Fricilone (R-Homer Glen). “We just want to play it safe and not plan to spend revenue that we might not receive. However, this will result in no reduction in services to our residents.”
The vote comes on the heels of the first budget workshop, which was held on September 26th. The workshop helped to set the context of the $565 million budget and to go over the projected revenue and expenses for the coming fiscal year.
At the workshop, County Board members discussed the Will County Executive’s proposed budget of $565 million dollars. The County Executive proposed taking an additional $4.3 million this year which would come from new property and the consumer price index. The Finance Committee’s vote recommended only taking $4 million. Three members of the committee voted to keep the amount at $4.3 million.
"Will County is already doing more with less because of state funding cuts," said Will County Board Minority Whip and Finance Committee member Lauren Staley-Ferry (D-Joliet). "I don't think it is wise to cut more funding for services to residents."